BMLL and Tradefeedr partner to build an AI-ready analytics layer for equities and futures trading data
Joint pilot extends Tradefeedr’s FX pre- and post-trade analytics into new asset classes, powered by BMLL historical datasets
Outputs delivered through Tradefeedr’s existing client network and distribution model
Market participants will be invited to join a year-long pilot to shape what AI-ready analytics APIs look like for the industry
London, New York, 25 March 2026: BMLL, the leading independent provider of harmonised, historical Level 3, 2 and 1 data and analytics across global equity, ETFs, futures and US equity options, today announced a partnership with Tradefeedr, the leading network for trading analytics and collaborative data sharing. The partnership will support Tradefeedr’s expansion into equities and futures, powered by BMLL’s high-fidelity historical market datasets.
A new foundation for trading analytics in the AI era
As institutions accelerate the automation of trading workflows and begin deploying AI applications across the front office, the need for clean, accessible, enriched trading data has never been greater. Yet for many firms, execution data remains fragmented across asset classes, brokers and platforms - making it difficult to standardise, benchmark or feed into downstream analytics and AI tools. Tradefeedr and BMLL are partnering to address this gap.
Combining best-in-class data with best-in-class API service
The partnership brings together BMLL's harmonised historical order book datasets across equities and futures with Tradefeedr's analytics APIs, common data layer and connected community of more than 100 institutional clients. Together, they will deliver enriched, standardised trading data through a single unified API — creating a foundational layer to power the next wave of innovation in execution analytics across the industry.
Paul Humphrey, Chief Executive Officer of BMLL, said: “Tradefeedr has built a strong distribution model for execution analytics but the sourcing of high quality market data has always been a challenge until now. This partnership brings BMLL’s harmonised historical order book datasets into that workflow to support more consistent benchmarking across futures and equities.”
Balraj Bassi, Chief Executive Officer at Tradefeedr, added: “Clients want multi-asset execution analytics that are consistent, scalable and easy to operationalise. Access to harmonised historical order book datasets from BMLL gives us the foundation to expand our TCA coverage into equities and futures. We're inviting market participants to join this pilot to shape what comes next — building the analytics delivery stack for the AI era.”
Call to the industry
BMLL and Tradefeedr are inviting market participants to join a year-long pilot to help build and validate this new capability from the ground up. Participants will work alongside both firms to define metrics, stress-test data quality, shape AI-ready context layers and provide feedback on benchmarks and reporting outputs — all delivered through Tradefeedr's existing network and legal framework. This is an opportunity to help define what AI-ready trading analytics looks like for the industry.
Enabled through Tradefeedr’s participation in the BMLL Activate: Data Credits Program
The partnership is supported by Tradefeedr’s participation in the BMLL Activate: Data Credits Program. This initiative enables qualified partners to build and validate new products on BMLL data with a route to long term deployment.
About Tradefeedr
Tradefeedr is an award-winning unified API layer that serves and interconnects over 100 of the world's largest financial institutions through a common data layer. We apply the principles of open banking APIs to financial markets, reducing the friction of data sharing between market participants.
By standardising data, metrics, and analysis for trading teams across the buy-side, sell-side, and trading platforms, Tradefeedr aims to make financial markets more efficient, improve communication, and simplify workflows.
About BMLL
BMLL Technologies is the leading, independent provider of harmonised, Level 3, 2 and 1 historical data and analytics to the world’s most sophisticated capital market participants, covering global equities, ETFs, futures and US equity options.
BMLL offers banks, brokers, asset managers, hedge funds, global exchange groups, academic institutions and regulators immediate and flexible access to the most granular Level 3, 2 and 1 T+1 order book data and advanced pre and post-trade analytics. BMLL gives users the ability to understand market behaviour, accelerate research, optimise trading strategies and generate alpha more predictably.
Founded in 2014 in the machine learning laboratories of the University of Cambridge, the platform enables researchers and quants across global financial services firms to apply complex statistical techniques to BMLL’s unique big-data sets with applications such as market impact, pre and post trade analytics, order book simulation and compliance. Users no longer need to buy, curate and harmonise data. With BMLL, they gain cost-effective, instant access to a cloud-native Data Science environment via a single web portal, with a long history of the most granular, full order book data across global equities, US equity options, futures and ETFs for back-testing and simulation, delivered directly into their workflows.
In October 2025, Nordic Capital acquired BMLL. The investment was made in close partnership with the management team of BMLL and minority shareholder Optiver, marking a joint commitment to accelerate the company’s next phase of growth. Before this, BMLL secured $21 million strategic investment in October 2024, led by Optiver; $26 million Series B investment in 2022/2023; and $36 million in Series A and seed funding rounds.
